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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (17629)12/4/2004 5:49:04 PM
From: KyrosL  Read Replies (2) | Respond to of 116555
 
>>"We are obviously concerned by the drop in prices,"<<

Looks like the new "target range" for OPEC is somewhere north of $40 nowadays. Now that I think about it, haven't heard anybody mentioning the range lately.



To: CalculatedRisk who wrote (17629)12/4/2004 9:49:38 PM
From: mishedlo  Respond to of 116555
 
"We are obviously concerned by the drop in prices," Oil Minister Sheikh Ahmed Fahd al-Sabah told the press. "We should take the matter very seriously. If this decline continues as it has in the past 48 hours, (OPEC) should stop all overproduction."

BTW what kind of horseshit is that given an opec target of $29-32 or whatever thay last stated.

Mish


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